Steel & Tube names director Mark Malpass, ex-Fletcher, as interim CEO

Steel & Tube Holdings named director Mark Malpass as interim chief executive following the sudden departure of Dave Taylor after eight years in the job.

Malpass was infrastructure products executive at Fletcher Building but lost his job during a restructuring of that company's building products and infrastructure products division late last year by former Fletcher CEO Mark Adamson, who was himself dumped in July. Malpass was appointed to Steel & Tube's board in March.

The Wellington-based company said yesterday that Taylor would depart next week to pursue other interests. Malpass will start as interim CEO on Sept. 25 while the company looks for a permanent replacement. He will step down from the board while in the role.

“Mark has broad commercial skills and industry knowledge, specifically within the steel sector," chair Susan Paterson said in a statement. "He has made a strong contribution since joining the Steel & Tube board in March this year, and has also been part of Steel & Tube’s recent strategy update."

The company's shares last traded at $2.20 and have declined 7.2 percent so far this year.

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